Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 31.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,316 shares of the financial services provider's stock after selling 24,844 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Pacific Premier Bancorp worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock valued at $129,645,000 after purchasing an additional 238,854 shares in the last quarter. American Century Companies Inc. increased its position in shares of Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider's stock valued at $97,695,000 after buying an additional 242,721 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider's stock worth $69,651,000 after buying an additional 321,716 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Pacific Premier Bancorp by 8.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider's stock worth $35,979,000 after buying an additional 122,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Pacific Premier Bancorp by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider's stock valued at $32,461,000 after acquiring an additional 52,962 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Pacific Premier Bancorp Stock Down 0.8 %

Shares of Pacific Premier Bancorp stock traded down $0.22 during mid-day trading on Monday, hitting $27.55. 406,614 shares of the stock were exchanged, compared to its average volume of 541,906. The company has a 50-day simple moving average of $26.69 and a 200 day simple moving average of $24.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analysts' expectations of $153.23 million. During the same quarter in the prior year, the business posted $0.48 EPS. Research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.79%. Pacific Premier Bancorp's payout ratio is currently -879.94%.

Insider Buying and Selling

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company's stock, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.21% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.